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The government saved the market with “half removal”, first the industrial and commercial stores, and the houses have to wait! This newspaper exclusively got the news that based on the fact that the new coronary pneumonia epidemic has long affected Hong Kong’s economy, the Hong Kong government has finally decided to abolish the hot tax levy of industrial and commercial stores. , i.e. the buyer does not need to pay the double rate to promote the market and drive the economy. However, the various taxes on residential buildings are not withdrawn. Some economists estimate that the spicy food recall will stimulate the transaction of industrial and commercial stores and improve the current situation of vacant stores and industrial buildings, which will help revitalize the local economy. A member of the real estate and construction industry, Shi Liqian, said the government now “does it late but doesn’t” when it first removes spicy food in industrial and commercial stores. This is especially good for SMEs and it is easier to collect cash.
At present, the economy is weak, the retail market is sluggish, and the industrial and commercial market has repeatedly made losses to transact. Right now, the government’s withdrawal of spicy food is sure to have an immediate effect. He Luosheng, senior researcher at Lingnan University’s Pan Sutong Shanghai-Hong Kong Economic Policy Research Institute, believes that the abolition of the double stamp duty on non-residential properties will reduce the cost of entry for buyers into the market, which it will lead to a rebound in transactions and a significant improvement in the situation of the Jipu stores. With the current economic situation, there is no reason to worry. As a result, industrial and commercial property prices will rise significantly.
Real estate price regulation does not help low income people
Although it has been pointed out that the Hong Kong government will not abolish the hot tax on residential property at this stage, He Lusheng believes the residential market is more needed to withdraw the hot tax. While Panyuan has not been completely removed, some taxes are expected to be relaxed, such as the 15% ad valorem stamp duty for non-first-time homebuyers.
Another economist analyzes that market conditions in industrial and commercial stores are bleak and that the unemployment rate is concentrated among low-income people, who have always disapproved of the government’s implementation of any measures to control the housing market. . However, due to the current economic instability and tax revenues that are becoming important for the government, it is recommended to relax measures that are not directly related to taxation, such as extending the exemption period for stamp duty to valuem of 15% on new residential buildings.
Some people in the industry believe that the recall of commercial and industrial stores can be done in several stages. Li Genxing, founder of the Shenghui Commercial Fund, said the government will abolish the commercial and commercial property tax and the market will move immediately. It is advisable to start with the mortgage rate and refer to residential properties. If a buyer enters the market as a first-time home buyer, they can buy up to 80% to 90%. He explained that the restaurant industry has a higher demand for owned stores, but due to the mortgage index problem it may not be able to buy more stores. Eventually, he loses the high rent and closes the business. Therefore, allowing high rate mortgages will greatly help the users and will also help promote economic.
Commercial store prices are expected to rebound over the next year
Second, regardless of any buyer, the upper limit of the mortgage ratio should be eased from the current maximum of 50% to 60% to 70% and finally the buyer’s double stamp duty rate should be restored to the previous level. at the launch of the hot makeup. Li Genxing pointed out that if the government removes the spicy food, it is estimated that the market loss and the situation in Jipu will improve and that the prices of industrial and commercial stores are expected to rise after next year’s Lunar New Year.
Veteran Zhengba Group investor Liao Weilin said the market has long been out of speculation. With the decline in industrial and commercial property prices, the double stamp duty has also become meaningless. I believe that the abolition of this spicy tax will help the market situation to reverse immediately and the worst of the empty shops will pass. The market will enter a period of recovery. He estimated that the industrial and commercial property transaction will increase by 30 to 40%, and although the selling price may not be reflected immediately, it is expected to rebound by 10-20% in the future.
Hong Kong’s economy is weak and the commercial and industrial market has repeatedly experienced declining transactions.
The economic downturn has affected trade in industrial and commercial stores.
The epidemic has severely affected Hong Kong’s economy, affecting all walks of life.
Important tips for non-residential properties
[Ricerca correlata]Reasons why property prices are not part of the epidemic
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